Fmr LLC Increases Stock Holdings in Commerce Bancshares, Inc. (NASDAQ:CBSH)

FMR LLC lifted its holdings in Commerce Bancshares, Inc. (NASDAQ:CBSH - Free Report) by 15.4% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 110,423 shares of the financial services provider's stock after purchasing an additional 14,775 shares during the period. FMR LLC owned about 0.09% of Commerce Bancshares worth $6,559,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Dynamic Technology Lab Private Ltd bought a new position in shares of Commerce Bancshares during the 3rd quarter valued at approximately $2,863,000. Daiwa Securities Group Inc. lifted its holdings in Commerce Bancshares by 9.3% during the third quarter. Daiwa Securities Group Inc. now owns 7,557 shares of the financial services provider's stock valued at $449,000 after purchasing an additional 642 shares in the last quarter. Canopy Partners LLC bought a new position in shares of Commerce Bancshares in the third quarter worth approximately $204,000. Cerity Partners LLC increased its stake in shares of Commerce Bancshares by 40.7% in the third quarter. Cerity Partners LLC now owns 74,872 shares of the financial services provider's stock worth $4,447,000 after purchasing an additional 21,664 shares in the last quarter. Finally, Citigroup Inc. raised its position in shares of Commerce Bancshares by 11.7% during the 3rd quarter. Citigroup Inc. now owns 130,134 shares of the financial services provider's stock valued at $7,730,000 after purchasing an additional 13,681 shares during the period. Hedge funds and other institutional investors own 70.26% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Keefe, Bruyette & Woods boosted their price objective on Commerce Bancshares from $66.00 to $78.00 and gave the company a "market perform" rating in a research report on Wednesday, December 4th. Piper Sandler set a $68.50 price target on Commerce Bancshares and gave the stock a "neutral" rating in a report on Friday, October 18th. StockNews.com raised shares of Commerce Bancshares from a "sell" rating to a "hold" rating in a report on Friday, October 18th. Morgan Stanley downgraded shares of Commerce Bancshares from an "overweight" rating to an "equal weight" rating and lowered their target price for the stock from $66.00 to $64.00 in a report on Monday, September 30th. Finally, Wells Fargo & Company upped their target price on shares of Commerce Bancshares from $62.00 to $67.00 and gave the stock an "equal weight" rating in a research report on Tuesday, December 3rd. Seven analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $65.07.

Insider Buying and Selling at Commerce Bancshares

In other Commerce Bancshares news, SVP Patricia R. Kellerhals sold 2,000 shares of the business's stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $62.23, for a total value of $124,460.00. Following the completion of the transaction, the senior vice president now directly owns 23,381 shares in the company, valued at approximately $1,454,999.63. The trade was a 7.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Chairman David W. Kemper sold 30,000 shares of Commerce Bancshares stock in a transaction that occurred on Tuesday, October 22nd. The stock was sold at an average price of $61.78, for a total transaction of $1,853,400.00. Following the completion of the transaction, the chairman now directly owns 1,151,994 shares in the company, valued at approximately $71,170,189.32. The trade was a 2.54 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 38,816 shares of company stock valued at $2,454,586 in the last quarter. 3.20% of the stock is owned by insiders.

Commerce Bancshares Stock Down 0.1 %

Commerce Bancshares stock traded down $0.10 during mid-day trading on Friday, reaching $67.56. 246,199 shares of the company's stock traded hands, compared to its average volume of 553,162. Commerce Bancshares, Inc. has a 12-month low of $47.09 and a 12-month high of $72.75. The company has a market cap of $8.66 billion, a price-to-earnings ratio of 17.62, a PEG ratio of 2.95 and a beta of 0.77. The stock has a 50 day moving average of $66.42 and a two-hundred day moving average of $61.70.

Commerce Bancshares (NASDAQ:CBSH - Get Free Report) last announced its quarterly earnings results on Thursday, October 17th. The financial services provider reported $1.07 EPS for the quarter, beating analysts' consensus estimates of $1.00 by $0.07. The firm had revenue of $421.38 million during the quarter, compared to the consensus estimate of $412.85 million. Commerce Bancshares had a net margin of 24.15% and a return on equity of 15.93%. As a group, sell-side analysts forecast that Commerce Bancshares, Inc. will post 3.95 earnings per share for the current year.

Commerce Bancshares Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 17th. Investors of record on Tuesday, December 3rd will be issued a dividend of $0.27 per share. The ex-dividend date of this dividend is Tuesday, December 3rd. This represents a $1.08 annualized dividend and a yield of 1.60%. Commerce Bancshares's payout ratio is 28.13%.

Commerce Bancshares Company Profile

Commerce Bancshares, Inc operates as the bank holding company for Commerce Bank that provides retail, mortgage banking, corporate, investment, trust, and asset management products and services to individuals and businesses in the United States. It operates through three segments: Consumer, Commercial, and Wealth.